Keys to a fortune get rich quick scheme
Discussion
Firstly let me say i'm not in it and have no interest whatsoever in risking my money but what people want to do with their money is up to them. The people who are in it seem to swear blind its not pyramid but its the only way I can think of explaining it so apologies if i'm wrong and I will stand corrected.
OK heres the rub.
Around our way there is this pyramid kind of get rich quick scheme called Keys to a fortune. The way it works is this
there are 9 in this Pyramid and everyone has put in £3k, the people at the bottom have to bring in 2 more people and then work there way up the pyramid until they are number one. They then get paid out in cash tax free 9 x £3k = £27k less the £3k you have invested obviously and then less £1k that goes to charities and events on the payout night. In total in theory you should end up £23k better off.
Apparently men can't do it but can send a women in their name.
I don't believe in get rich quick schemes and no doubt people who are in will say i'm gutless or similar but that doesnt worry me as I have freedom of choice.
One local village is completely over run with it and it has caused arguments and grief between family and lifelong friends where all are trying to recruit new investors.
What is the general view on these things and has it hit anywhere else yet.
OK heres the rub.
Around our way there is this pyramid kind of get rich quick scheme called Keys to a fortune. The way it works is this
there are 9 in this Pyramid and everyone has put in £3k, the people at the bottom have to bring in 2 more people and then work there way up the pyramid until they are number one. They then get paid out in cash tax free 9 x £3k = £27k less the £3k you have invested obviously and then less £1k that goes to charities and events on the payout night. In total in theory you should end up £23k better off.
Apparently men can't do it but can send a women in their name.
I don't believe in get rich quick schemes and no doubt people who are in will say i'm gutless or similar but that doesnt worry me as I have freedom of choice.
One local village is completely over run with it and it has caused arguments and grief between family and lifelong friends where all are trying to recruit new investors.
What is the general view on these things and has it hit anywhere else yet.
funkyboogalooo said:
Firstly let me say i'm not in it and have no interest whatsoever in risking my money but what people want to do with their money is up to them. The people who are in it seem to swear blind its not pyramid but its the only way I can think of explaining it so apologies if i'm wrong and I will stand corrected.
OK heres the rub.
Around our way there is this pyramid kind of get rich quick scheme called Keys to a fortune. The way it works is this
there are 9 in this Pyramid and everyone has put in £3k, the people at the bottom have to bring in 2 more people and then work there way up the pyramid until they are number one. They then get paid out in cash tax free 9 x £3k = £27k less the £3k you have invested obviously and then less £1k that goes to charities and events on the payout night. In total in theory you should end up £23k better off.
Apparently men can't do it but can send a women in their name.
I don't believe in get rich quick schemes and no doubt people who are in will say i'm gutless or similar but that doesnt worry me as I have freedom of choice.
One local village is completely over run with it and it has caused arguments and grief between family and lifelong friends where all are trying to recruit new investors.
What is the general view on these things and has it hit anywhere else yet.
It's a classic pyramid scheme - nothing else. The maths for scaling beyond a few levels don't add up, as with all pyramid schemes.OK heres the rub.
Around our way there is this pyramid kind of get rich quick scheme called Keys to a fortune. The way it works is this
there are 9 in this Pyramid and everyone has put in £3k, the people at the bottom have to bring in 2 more people and then work there way up the pyramid until they are number one. They then get paid out in cash tax free 9 x £3k = £27k less the £3k you have invested obviously and then less £1k that goes to charities and events on the payout night. In total in theory you should end up £23k better off.
Apparently men can't do it but can send a women in their name.
I don't believe in get rich quick schemes and no doubt people who are in will say i'm gutless or similar but that doesnt worry me as I have freedom of choice.
One local village is completely over run with it and it has caused arguments and grief between family and lifelong friends where all are trying to recruit new investors.
What is the general view on these things and has it hit anywhere else yet.
Run like F**K
I was working in an office down South the first time this was around and there was such a buzz about it.
My PAs mother (who was pretty well off already) was an early gainer from it, but she mixed in a circle where giving each other £3K was small beer. Her experience only served to heighten the interest ion the office and many people where in syndicates where they split the £3K into smaller amounts.
http://www.independent.co.uk/news/business/news/ca...
My PAs mother (who was pretty well off already) was an early gainer from it, but she mixed in a circle where giving each other £3K was small beer. Her experience only served to heighten the interest ion the office and many people where in syndicates where they split the £3K into smaller amounts.
http://www.independent.co.uk/news/business/news/ca...
Steer as clear as you can from it. Happened in my old work a few years ago. Four or five of us went in, then only one got a payout, the others didn't. Was £100, not end of the world but still a couple of days pay back then. Ended up with staff refusing to speak/work with the woman who got us all into it. Made it interesting working there for a while.
There was one doing the rounds called Hearts about 8 years ago.
It is a pyramid scheme and it is guaranteed to make a few rich and a lot, lot more poorer.
They say it has to be in the name of women because:-
1. They are more likely to trust another woman (Girl Power and all men are b
ds)2. Lots of other reasons based on sexism, naivety, and stereotypes which i am not going to write about but am sure you can have a good guess at.
Fact.
exactly the same as another one a few years back called "women empowering women". made it onto GMTV and everything...
http://www.guardian.co.uk/print/0,,4230487-103690,...
http://www.thisismoney.co.uk/news/article.html?in_...
http://www.guardian.co.uk/print/0,,4230487-103690,...
http://www.thisismoney.co.uk/news/article.html?in_...
Edited by limpsfield on Tuesday 28th October 19:19
Someone I knew from University lives fairly close to me now. I'd not heard from them in ages. Anyway, his girlfriend (of after uni) calls with details of some get rich quick scheme (it's not a pyramid - honest).
Right. It was Usana health products, which was basically pyramid selling. Anyhow I say no, and then they're into... awww why? It's a really good idea, it's not a pyramid scheme, if it were we wouldn't be doing it. You'd have to be really stupid to do one of those.
Anyway. It came to a head, after about a week of me trying to duck and dive around the whole thing, before I finally said...
"Do what you want, but I ain't getting involved in any pyramid scheme."
Cue tears, "what sort of a friend are you", the full nine yards. The whole thing is topped off by her saying "well.... your old friend from uni, he's not your friend anymore". Throughout the whole deal, I'd not spoken to him. I can only conclude that she speaks for him now.
Whatever. Bang goes another old friend!
Steer well clear of the pyramid.
Right. It was Usana health products, which was basically pyramid selling. Anyhow I say no, and then they're into... awww why? It's a really good idea, it's not a pyramid scheme, if it were we wouldn't be doing it. You'd have to be really stupid to do one of those.
Anyway. It came to a head, after about a week of me trying to duck and dive around the whole thing, before I finally said...
"Do what you want, but I ain't getting involved in any pyramid scheme."
Cue tears, "what sort of a friend are you", the full nine yards. The whole thing is topped off by her saying "well.... your old friend from uni, he's not your friend anymore". Throughout the whole deal, I'd not spoken to him. I can only conclude that she speaks for him now.
Whatever. Bang goes another old friend!
Steer well clear of the pyramid.
Edited by dilbert on Tuesday 28th October 19:22
limpsfield said:
exactly the same as another one a few years back called "women empowering women". made it onto GMTV and everything...
http://www.guardian.co.uk/print/0,,4230487-103690,...
http://www.thisismoney.co.uk/news/article.html?in_...
Yep, I remember this one as well as the cheaper 'Hearts' version, about 6-8 years ago. A lot of people got rumped.http://www.guardian.co.uk/print/0,,4230487-103690,...
http://www.thisismoney.co.uk/news/article.html?in_...
Edited by limpsfield on Tuesday 28th October 19:19
RLF! indeed.
Edited by Dominic H on Tuesday 28th October 19:26
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